Waec Commerce 1999 Past Questions and Answers

Question 26:

• WAEC 1999

Insurance is necessary because of the need to

A. Pool resources together
B. Meet uncertainties in future
C. Make profit
D. Lend money to individuals

Question 27:

• WAEC 1999

Notes and coins are legal tender because they are

A. Printed by the Central Bank
B. Backed by law
C. Backed by gold
D. Issued by all banks

Question 28:

• WAEC 1999

If a company is described as "listed" it means

A. Its shares can be traded on the stock exchange
B. It is about to be voluntarily liquidated
C. It is duly registered by the registrar of companies
D. It has been blacklisted

Question 29:

• WAEC 1999

The counterfoil of a cheque book enables the drawer to

A. Request for a new cheque book
B. Reconcile his book of accounts
C. Know who the debtors are
D. Obtain an overdraft from the bank

Question 30:

• WAEC 1999

Which of the following qualities of money is generally undermined by inflation?

A. Stability
B. Scarcity
C. Durability
D. Portability